Compare business credit cards for startups – December 2018
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Many business credit cards offer helpful benefits for startups.
Running a startup is never easy. You’re juggling multiple priorities at any given moment — including, of course, your company’s finances.
A business credit card can be your best friend for covering last minutes expenses. There are lots of choices catering to startups, so compare the annual fees, benefits and rewards to find the best card for your startup.
Ink Business Cash℠ Credit Card
Earn $500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening
Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year
Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year
Earn 1% cash back on all other card purchases with no limit to the amount you can earn
0% introductory APR for 12 months on purchases and balance transfers
If you need to take on interest-free debt for a longer than a month, you’ll want a card with a strong intro APR. The Blue Business℠ Plus Credit Card from American Express is one of your top options, offering one of the longest zero-interest promotions you’ll find among business cards.
Annual fee: None.
Intro APR: 0% on purchases and balance transfers for 15 months following your account opening.
After that, your APR will be 13.24%, 17.24% or 21.24% variable. This is a strong intro APR — one of the strongest you’ll find among business credit cards.
Flat rewards.
Earn 2x points on all eligible purchases, for up to 50,000 each year. After that, earn 1x points on all eligible purchases.
Buy above your credit limit.
Depending on factors like your card use and payment history, you may be able to spend above your credit limit. This can be helpful if you need a bit more leeway to make important purchases here and there.
Penalty APR.
American Express may apply a 29.99% variable APR to all of your balances if you make two or more late payments in a 12 months, fail to make a minimum payment by the due date or make a returned payment.
Balance transfer fees apply.
You’ll receive an intro APR on balance transfers, but each transfer will cost $5 or 3% of the transaction, whichever is greater.
Best for average credit: Spark® Classic for Business
Spark® Classic for Business
Get the credit you want for your business and unlimited 1% cash back on every purchase, every day.
When you’re bootstrapping your startup, you might not have the best credit, from running up high balances or taking out loans. When other cards might be out of reach, the Spark® Classic for Business may be a viable option.
Apply with average credit.
Capital One specifically targets this cards toward business owners with average credit.
Annual fee: None.
A breath of fresh air, especially when your credit might not be where you want it to be.
Rewards: 1% cash back on every purchase.
Earn unlimited rewards with no minimum to redeem. It isn’t a great rewards rate, but it’s a decent deal if you have fair credit and need a business card.
No balance transfer fees.
It’s not easy to get a balance transfer card if you have fair credit. Not only can you transfer debt to the Spark® Classic for Business, you won’t pay balance transfer fees. However, balance transfers come with24.74% variable APR on the balance, that you’ll pay immediately after the transfer.
High interest rate.
Your purchase and balance transfer APR will be 24.74% variable. That’s high, considering the average credit card APR is around 16%, though, not unheard of for a fair-credit card.
Best for limiting debt: American Express® Business Gold Card
American Express® Business Gold Card
Earn Membership Rewards® points after you spend in qualifying purchases on the card within your first months of card membership.
If you’re worried about running up high balances on your card, you can keep yourself in check with the American Express® Business Gold Card. That’s because it’s a charge card, meaning you must pay off your balance each month unless you opt to use the Pay Over Time feature. Luckily, it’s also a strong rewards card, which can balance the steep annual fee.
Annual fee: $295.
Be sure to weigh the benefits versus this annual fee.
Welcome offer: G Suite and ZipRecruiter credits.
To earn them, open a complimentary account for one year with the two services. You can earn statement credits for the first 12 months from account opening, worth up to $200 for G Suite and $2,988 for ZipRecruiter.
Rewards: Earn elevated rewards in categories of your choice.
Earn 4x points in two of six categories on up to $150,000 in combined purchases annually, then 1x points after that.
Categories include eligible airfare, US advertising purchases, US gas, US restaurants, US shipping and eligible US computing purchases. Earn 1x points on all other purchases.
Annual fee.
You’ll pay a $295 annual fee — double the price of many annual-fee business cards.
Best for travel: Ink Business Preferred℠ Credit Card
Ink Business Preferred℠ Credit Card
Earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®
Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year
Earn 1 point per $1 on all other purchases - with no limit to the amount you can earn
Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards
Redeem points for travel, cash back, gift cards and more - your points don't expire as long as your account is open
This is one of your best choices if you travel often. You’ll earn accelerated points on travel and other business categories. And when you redeem points through Chase Ultimate Rewards, they’re worth 25% more.
To earn bonus points, spend $5,000 on purchases in the first 3 months of card membership. When you redeem them through Chase Ultimate Rewards, they’re worth $1,000.
Rewards: More on business purchases.
Earn 3x points on the first $150,000 you spend per year in combined purchases on travel, shipping costs, eligible advertising and Internet, cable and phone services. Once you reach the cap, and on all other purchases, you’ll earn 1x points.
Points transfers to frequent-traveler programs.
Transfer your points at a 1:1 ratio to select airline and hotel programs, such as Southwest Airlines Rapid Rewards, Marriott Rewards and World of Hyatt.
Annual fee.
You’ll pay a $95 annual fee, which isn’t waived for the first year.
Best for flat cash back: Capital One® Spark® Cash Business
Business Advantage Travel Rewards World Mastercard® credit card
Earn more travel rewards for your business purchases
If your expenses spread through many categories, like office supplies, travel and shipping costs, a flat-rate rewards card like the Capital One® Spark® Cash Business might help. It offers unlimited 2% cash back on all purchases.
Earn it after you spend $4,500 on purchases within the first 3 months of card membership.
Rewards: 2% cash back on all purchases.
Earn unlimited rewards with no minimum to redeem.
Annual fee.
Starting the second year, you’ll pay a $95 annual fee.
Penalty APR.
If you make a late payment, Capital One may apply a high 31.15% variable APR to all of your balances.
How to compare business credit cards for startups
Annual fee. When cash is tight, you might not want the expense of an annual fee. There are solid no-annual-fee business cards, though you’ll earn more powerful rewards with cards you have to pay for.
Signup bonus. If you anticipate heavy purchases in the next few months, you could breeze past the spending requirement for a card’s signup bonus. Business credit cards often have more impressive bonuses than personal cards.
Intro APR. This could be the answer if you’ll rack up debt soon but need several months to pay it off. Intro APRs for business cards tend to top off at around 15 months.
Rewards. A card with strong rewards can pay for itself. If your card has tiered rewards, check that your startup has significant expenses in the right categories. If your expenses are spread evenly throughout many categories, you might get more out of a flat-rewards card.
Compare business rewards credit cards
Updated December 11th, 2018
Bottom line
Your startup faces unique challenges, which some cards can address more effectively than others. Compare options that give your rewards, balance transfers and an annual fee you can afford.
Most providers will ask you to personally guarantee the debt you accrue on your business card. For that reason, it’s a good idea to only spend as much as you can personally pay off.
With a charge card, you must pay off your balance each month. That differs from a credit card, which allows you to can carry a balance from month to month.
As with personal cards, you won’t know your APR until you receive your card. The better your personal credit — and your business credit, if you have it — the more likely you are to receive an attractive APR.
Kevin Chen is a world-travelin', copy-writin', Game of Thrones-watchin' credit cards writer for finder.com. When he's not crunching the numbers on bonus points and comparing APRs, you can find him flying around the world in search of the perfect beer.
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